Brussels, 24 April 2023
Written by Mario Damen.
That the EU imports almost 60 % of its energy shows that real EU strategic autonomy in energy is far from achieved. The current energy crisis poses a risk to all four EU energy policy objectives. Crisis in the energy market is causing public and private debt and inflation, which risks destabilising the European energy market. While diversifying gas imports away from Russia reduces dependency on one big supplier, reliance on several other third countries implies new supply risks. Although high fossil fuel prices may accelerate the transition towards renewable energy….